029 Group SE

M&A Activity • Oct 31, 2002

News Details

Ad-hoc | 31 October 2002 07:30

Celanese AG english

Celanese sells Trespaphan film business to Dor-Moplefan Group and Bain Capital Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Celanese sells Trespaphan film business to Dor-Moplefan Group and Bain Capital As part of its strategy to focus on its core businesses, Celanese AG has signed an agreement to sell Trespaphan, its global oriented polypropylene (OPP) film business to a consortium consisting of Dor-Moplefan and Bain Capital. The purchase price for the transaction is approximately EUR 200 million. The transaction is subject to regulatory approvals. Both parties expect the purchase to be completed before the end of this year. Dor-Moplefan previously acquired the OPP film activities of Moplefan and Shorko from Basell. In 2001, Trespaphan, formed part of Celanese’s Performance Products segment, generated sales of EUR 281 million. The business has 1,400 employees at four production sites in Germany, France, South Africa and Mexico. OPP films are primarily used in food and cigarette packaging, labeling and capacitors. Assuming this transaction and the previously announced acquisition on Clariant’s emulsion business are completed before the end of the year, Celanese now expects year-end net debt to be around EUR 700 million and trade working capital to be at approximately last years’ level. Celanese will start to report the business as part of discontinued operations. end of ad-hoc-announcement (c)DGAP 31.10.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact – Media Relations: Phillip Elliott, Tel. +49 (0)69 305 33480 Contact – Investor Relations: Michael Oberste-Wilms, Tel. +49 (0)69 305 83199 Oliver Stratmann, Tel. +49 (0)69 305 4139 Andrea Stine (USA), Tel. +1 908 522 7784 More information about Celanese is available in the internet under http://www.celanese.com ——————————————————————————– WKN: 575300; ISIN: DE0005753008; Index: MDAX Listed: Amtlicher Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart; NYSE 310730 Okt 02